Pivotal Research Forecasts Strong Price Appreciation for Roku (NASDAQ:ROKU) Stock

Roku (NASDAQ:ROKU) had its price objective hoisted by equities researchers at Pivotal Research from $100.00 to $120.00 in a research note issued on Friday, MarketBeat Ratings reports. The firm currently has a “buy” rating on the stock. Pivotal Research’s price objective would suggest a potential upside of 50.04% from the stock’s previous close.

ROKU has been the subject of several other research reports. Piper Sandler lifted their price target on shares of Roku from $65.00 to $84.00 and gave the company a “neutral” rating in a research report on Thursday, July 10th. Wells Fargo & Company reduced their price target on shares of Roku from $129.00 to $93.00 and set an “overweight” rating for the company in a research report on Monday, April 28th. Evercore ISI reduced their price target on shares of Roku from $105.00 to $80.00 and set an “in-line” rating for the company in a research report on Friday, May 2nd. JPMorgan Chase & Co. lifted their price target on shares of Roku from $85.00 to $100.00 and gave the company an “overweight” rating in a research report on Friday, July 18th. Finally, KeyCorp raised their price objective on Roku from $115.00 to $116.00 and gave the company an “overweight” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, seven have given a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $99.36.

Roku Stock Down 15.1%

Shares of ROKU stock opened at $79.98 on Friday. The company has a market cap of $11.67 billion, a price-to-earnings ratio of -190.43 and a beta of 2.05. Roku has a 52 week low of $48.33 and a 52 week high of $104.96. The firm has a 50 day moving average of $83.77 and a 200-day moving average of $76.97.

Roku (NASDAQ:ROKU) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.23. Roku had a negative net margin of 1.40% and a negative return on equity of 2.47%. The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter last year, the firm posted ($0.18) EPS. Roku’s revenue was up 14.7% compared to the same quarter last year. Analysts anticipate that Roku will post -0.3 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Dan Jedda sold 3,000 shares of Roku stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $90.20, for a total transaction of $270,600.00. Following the sale, the chief financial officer directly owned 76,132 shares in the company, valued at $6,867,106.40. The trade was a 3.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Charles Collier sold 212,559 shares of Roku stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $95.00, for a total value of $20,193,105.00. Following the completion of the sale, the insider directly owned 200 shares of the company’s stock, valued at approximately $19,000. This trade represents a 99.91% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 308,873 shares of company stock valued at $28,076,913. 13.98% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Roku

Several large investors have recently added to or reduced their stakes in the company. Motley Fool Asset Management LLC purchased a new stake in Roku in the 2nd quarter worth about $207,000. IQ EQ FUND MANAGEMENT IRELAND Ltd increased its holdings in Roku by 194.6% in the 2nd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 119,527 shares of the company’s stock worth $10,505,000 after acquiring an additional 78,948 shares during the last quarter. Y Intercept Hong Kong Ltd increased its holdings in Roku by 162.2% in the 2nd quarter. Y Intercept Hong Kong Ltd now owns 24,629 shares of the company’s stock worth $2,165,000 after acquiring an additional 15,234 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd increased its holdings in Roku by 7.4% in the 2nd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 3,563 shares of the company’s stock worth $313,000 after acquiring an additional 244 shares during the last quarter. Finally, Wealthfront Advisers LLC increased its holdings in Roku by 18.0% in the 2nd quarter. Wealthfront Advisers LLC now owns 6,646 shares of the company’s stock worth $584,000 after acquiring an additional 1,012 shares during the last quarter. Hedge funds and other institutional investors own 86.30% of the company’s stock.

Roku Company Profile

Roku, Inc, together with its subsidiaries, operates a TV streaming platform in the United states and internationally. The company operates in two segments, Platform and Devices. Its streaming platform allows users to find and access TV shows, movies, news, sports, and others. The Platform segment offers digital advertising, including direct and programmatic video advertising, media and entertainment promotional spending, and related services; and streaming services distribution, such as subscription and transaction revenue shares, and sale of premium subscriptions and branded app buttons on remote controls.